Asian shares slide further as traders fret over growth
Concern that a fresh flare-up in tension between the US and China could destroy the chance of a trade deal keeps markets under pressure
Tokyo — Global stocks extended their slump on Monday, with US equity futures and Asian shares sliding on worry over slowing growth and the fear that a fresh flare-up in tension between Washington and Beijing could destroy the chance of a trade deal. Traders returned from the weekend to face a growing wall of worry, with the world’s largest economies — the US, China and Japan — all reporting weaker-than-expected data, which pointed to moderating activity. Investors were also bracing for a Tuesday vote on British Prime Minister Theresa May’s EU divorce deal, which looks set to be rejected by parliament, raising the fear of a chaotic exit in March. S&P futures fell 0.8% and Dow futures lost 0.8% in the Asian day. MSCI’s broadest index of Asia-Pacific shares outside Japan slid 1.4% to a near three-week low. The Shanghai Composite index retreated 0.8%. Australian stocks lost 2%, brushing its lowest level since December 2016, and South Korea’s Kopsi fell 1.1%. Japan’s Nikkei shed 2.3%. Da...
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